# Debt Consolidation - Anyone ever take advantage of this?

**URL:** <https://forums.speedlife.net/t/debt-consolidation-anyone-ever-take-advantage-of-this/250555>\
**Category:** Shift518 Off Topic\
**Created:** [February 26, 2010, 8:25am UTC](https://forums.speedlife.net/t/debt-consolidation-anyone-ever-take-advantage-of-this/250555 "2010-02-26T08:25:27Z")\
**Posts on this page:** 1\
**Showing post:** 20

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**Author:** ![JClark](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jclark/32/6309_2.png) [@JClark](https://forums.speedlife.net/u/JClark)\
**Post date:** [February 26, 2010, 4:46pm UTC](https://forums.speedlife.net/t/debt-consolidation-anyone-ever-take-advantage-of-this/250555/20 "2010-02-26T16:46:09Z")

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> [@5/20 Nyspeed BBQ @ Chestnut Ridge \*\*PAYMENT INFO INSIDE\*\*](https://forums.speedlife.net/t/5-20-nyspeed-bbq-chestnut-ridge-payment-info-inside/24869/472):
>
> My situation: I purchased a home last year, made a lot of improvements to it and **I am sure it will appraise for well over what i have invested into it.** I checked my credit report and it is good, but not the numbers I wanted to see. I have no late or delinquent notices on my reports

Sadly I doubt that’s true. ^^

Not knowing everything about your situation, I’d gamble that you’re better off not consolidating. A lot of the consolidation stuff preys on people who are too dumb or too disorganized to manage or understand their debt. The consolidation company has to make money and its going to come from you.

With some simple financial calculator functions you can determine what the best amount to pay off each card is each month. If that’s not in the cards, just pay the biggest chunk of your $ each month to the highest rate debt (prob CCs).

I’d hold off on major home improvements like the garage. Just because you’re putting the money into the house (garage, whatever) and not blowing it all on hookers and gambling, doesnt mean its a great use of funds. Pay down that debt as fast as you can and then reevaluate.

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